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Should I refinance INVESTMENT property with my current lender or not?

 I currently owe $133k 30yr fixed at 5.875%. My current lender is offering 4.5% 30yr fixed. The origination cost is $2258 and other settlement costs are $2595 for a total of $4853 which would be integrated into the loan so I wouldn't have to pay anything upfront. Can someone let me know if this is a good deal or not?  My monthly would go down a couple hundred dollars which is the whole idea but the settlement charges seem high.  I'm assuming it would take a couple years to make the $4853 back since I'm saving a couple hundred on my monthly.  Should I proceed with the refinance or just stay with what I have?  Thank you.

Doug

p.s. For more info it shows on another document my estimated closing costs as $3368 and estimated prepaid items $1485 to add up to $4853.
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April 14 2012 - Chicago
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I would call a few different lenders and see what they offer as well.
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April 14 2012
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I'm guessing it's worth around $120k.  My credit score is around 770.
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April 14 2012
What is the value of your property, and what is your credit score?
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April 14 2012
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It seems that a lot of lenders don't want to get involved because the property is under-valued right now. I thought the HARP program would come into play here to help people in my situation out.
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April 14 2012
As I mentioned on trulia shop around. There is no need for 'loyalty' and you will not get a better deal with the same lender you are currently using just because you currently have a loan with them. Lender loyalty???? Customer service?????? From lenders????? Ya right!
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April 14 2012
 
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